How does protected no claims work?

mame · 3 Dec 2007 at 23:34

Ok i have 7 years no claims although i think 5 years is the max that affects a quote. I don't have protected no claims but apparently it costs next to nothing to add to a policy. Doesn't this defeat the whole point? Anyway, if I get protected no claims on my current policy and then make a claim what happens if i then try to renew my insurance elsewhere? Surely if I try to take a policy out with a new insurance company and say "well i wrote 3 cars off last year but, as i paid the old insurance company an extra tenner, i still have 7 years no claims" then they going to quote me a higher quote? Am i missing something?

lordrobs · 3 Dec 2007 at 23:44

Makes a 20% difference to mine. IIRC with protected no claims you can make one claim a year or 2 in 3 years without your NCD being protected.

romperstomper · 3 Dec 2007 at 23:50

I guess you have to stay with the same company ,your allowed so many claims in so many years without it effecting your no claims ,its well worth having ,as you don't won't to start again just because of one hicup !

lordrobs · 3 Dec 2007 at 23:57

romperstomper said:
I guess you have to stay with the same company ,your allowed so many claims in so many years without it effecting your no claims ,its well worth having ,as you don't won't to start again just because of one hicup !

Again IIRC but I think you only drop 2 levels of NCD. So if you have 5 years and make a claim you drop to 3 years NCD. I had protected NCD for 3 years then did the sums and I really can't justify it for the premium hike. Yes I would be better off if I make a claim, if I don't for 2 years then make a claim in year 3 I think it works out about even, 4 years claim free and I'm quids in without it.

Glaucus · 3 Dec 2007 at 23:58

You can still move.

your insurance will still go up if you have an accident, as you still have to declare.

But instead of losing your NCD. You keep it and thus get 40% or what ever 7 years is worth of your quote.

Scania · 4 Dec 2007 at 00:08

Protected NCD is very much worth the extra - its a small premium to pay but the savings from it , in the event of a claim, can prove to be considerable.

stoofa · 4 Dec 2007 at 02:29

I wouldn't say that adding Protected NCB costs next to nothing - although I guess it depends on your definition of next to nothing.
I've got 14 years NCB (effective time - of course most policies don't list this total amount).
I'm allowed to make 2 claims in a 3 year period and not lose my NCB.
In the 14 years I have been driving I've only been involved in one accident that would have caused me to lose NCB and thankfully protection meant I lost none.

BigglesPiP · 4 Dec 2007 at 03:20

1. People buy insurance with protected NCB.
2. ???
3. Profit!

You can't get nailed for claiming on the grounds you have no NCB, but you can still be nailed because you made a claim last year.

Baz · 4 Dec 2007 at 09:23

I found it to be a godsend!

I had a shunt 2 years ago, did about £2000 damage to my Golf, my insurance actually went down when it was renewed, but because I had claimed, I couldn't move anywhere else as I had to tell them about it.. It means you are stuck with the same company, but if you didn't have it, it would be more expensive with whoever you went with.

TBH, it doesn't cost that much anyway!